Mortgage loans statistics – January 2018

Source: Monetary Authority of Macao

According to statistics released today by the Monetary Authority of Macao, new approvals of residential mortgage loans (RMLs) and commercial real estate loans (CRELs) both rose from a month earlier in January 2018. With regard to the outstanding balance, both RMLs and CRELs witnessed monthly increases.

New lending approved

In January 2018, new RMLs approved by Macao banks grew by 14.9% month-to-month to MOP3.6 billion. Of which, new RMLs to residents, accounting for 97.5% of the total, rose by 15.2% to MOP3.5 billion. The non-resident component also increased by 5.5% to MOP89.9 million. The monthly average of new RMLs approved between November 2017 and January 2018 was MOP3.6 billion, up by 8.2% from the previous period (October to December 2017).

New RMLs collateralised by uncompleted units (i.e. equitable mortgage) was MOP324.9 million, virtually unchanged from the preceding month. The equitable mortgage extended to residents, which accounted for 98.9% of the total, increased by 3.5% from the previous month.

New CRELs surged by 135.1% month-to-month to MOP13.0 billion; of which, new CRELs to residents, accounting for 62.6% of the total, rose by 51.0% to MOP8.1 billion. Those to non-residents rose to MOP4.9 billion, mainly driven by new loans granted to enterprises collateralised by retail premises. The monthly average of new CRELs approved between November 2017 and January 2018 was MOP8.4 billion, up by 50.7% when compared with the previous period (October to December 2017).

Outstanding balances

As at end-January 2018, the outstanding value of RMLs was MOP189.7 billion, up 0.1% from a month earlier or 4.5% from a year ago. The resident component made up 93.6% of the total. When compared with the previous month, outstanding RMLs to residents increased by 0.3%, while those to non-residents fell by 1.7%.

The outstanding value of CRELs was MOP183.3 billion, up by 2.6% month-to-month or 8.1% year-on-year. Residents accounted for 89.1% of the loans. Compared with a month earlier, outstanding CRELs to residents and non-residents increased by 1.2% and 16.0% respectively.

Delinquency ratios

At the end of January 2018, the delinquency ratio for RMLs was 0.20%, up 0.01 percentage point from a month ago or 0.02 percentage points over a year earlier. The ratio for CRELs was 0.14%, virtually unchanged from the preceding month but up 0.01 percentage point from end-January 2017.